RBC Capital upgraded Airbnb (ABNB) to Outperform from Sector Perform with a price target of $170, up from $145. The firm sees an “increasingly attractive brand monetization story,” saying first party data is likely worth a premium in the evolving consumer artificial intelligence landscape. RBC is bullish on Airbnb’s entry into hotels as an incremental room nights driver and as a possible entry point for outsized profit from promoted listings.
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